Under a bilateral trade agreement between Bangladesh and the United States, Bangladesh will import energy products worth approximately $15 billion from the United States over the next 15 years. At the same time, the country has decided to purchase $3.5 billion worth of agricultural products from the US.
The information was disclosed in a joint statement released by the White House on Monday.
According to the statement, the total value of the transactions will increase further if the purchase of 14 Boeing aircraft is included. The interim government of Bangladesh has said that the process of finalizing an agreement with Boeing to purchase 14 aircraft is currently underway, with an estimated value of around BDT 300–350 billion.
As part of the agreement, Bangladesh will provide preferential market access for US industrial and agricultural products. These include chemicals, medical equipment, machinery and motor vehicles, information and communication technology (ICT) equipment, energy products, soybeans, dairy products, beef, poultry, nuts, and various fruits.
Meanwhile, the United States has reduced the tariff rate on Bangladeshi products from 20 percent to 19 percent. In addition, tariffs on certain specific products will be fully withdrawn.